How low will Bitcoin go? Regional US ‘bank stress’ pushes BTC toward $100K
US regional bank stress, fueled by auto sector bankruptcies, pushed Bitcoin below key support levels toward $100,000.Summary
Concerns over financial turmoil in the US, specifically stress among regional banks due to exposure in two auto sector bankruptcies (First Brands Group and Tricolor Holdings), triggered a fresh wave of risk aversion across markets. This panic caused US equities to slide and pushed Bitcoin (BTC) down to an intraday low of $104,500, wiping out over $1.19 billion in crypto liquidations, with $317.8 million in Bitcoin long positions liquidated. The drop saw BTC fall below critical support, including the 200-day Simple Moving Average (SMA) at $107,520. Analysts are now watching lower support levels, with $88,000 cited as a significant potential bottom if the $104,000 level fails to hold, although the extremely low Fear and Greed Index suggests a potential short-term rebound might be near.
(Source：Cointelegraph)